Ethereum's on-chain transaction volume is experiencing a significant resurgence, signaling a potential turnaround after a lackluster first half of the year. Recent data indicates that the network is approaching $240 billion in monthly transaction volume, according to The Block, demonstrating renewed activity within the Ethereum ecosystem. Several factors contribute to this recovery. Increased adoption and usage of Layer 2 scaling solutions, such as Arbitrum and Optimism, are processing a larger number of transactions, effectively boosting the overall on-chain volume. The Decentralized Finance (DeFi) sector is also playing a key role, with increased trading and lending activities contributing significantly. Furthermore, the surge in stablecoin trading, potentially influenced by developments like the proposed U.S. stablecoin regulation (GENIUS) , is adding momentum to the network's activity. Experts anticipate that Ethereum's performance will continue to improve, contrasting with the sluggishness observed in the first and second quarters. This recovery suggests a strengthening foundation for future growth and innovation within the Ethereum ecosystem. ```

#ETH